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Pakistan's DAP inventories rose 48,000 tonnes in June to 268,000 tonnes as domestic demand fell to its lowest since January. Farmers find DAP unaffordable, and 2026 offtake is projected to fall about 35% below the 2021-25 average.
Demand destruction in Pakistan adds to weaker phosphate import needs, which is bearish for DAP in South Asia and can pressure global phosphate prices.
piqmarkets.comJul 23, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
